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Two digital platforms join hands to digitize lending

4 min read

Sarmaya Micro Finance has partnered with Easapaisa to digitize the process of acquiring loans.

In a statement, Sarmaya Microfinance CEO Habibur Rahman said that, “Digital lending, unlike the traditional form of credit lending, was more inclusive in nature and it would cover individuals and businesses, especially small and medium-sized enterprises (SMEs), that do not have a credit history or were deemed to have low creditworthiness.

He said that “Bad loans were also less likely with digital lending, as users were checked for their credit behavior through traditional, as well artificial intelligence (AI)-based, algorithms. He asserted that “Digital lending methodology looked not only at an ability to pay, but also a willingness to pay.”

The statement also read that, ‘’Easypaisa’s API Gateway was the first tool of its kind that allowed seamless integration of the digital payments platform with businesses exploring digital payment methods’’.

Often at times, people with an idea could not move on to realize their dreams due to lack of finances and ultimately drop it. In such times, Sarmaya Microfinance comes to the rescue, the stamen said.

It also said that with this partnership, it will be easy to receive loans without getting into the tedious paperwork. The duration would be as short as 5 minutes. Customers only need to download the app, fill in personal details. And once it is verified, they can request the loan from the Microfinance Bank.

SMP is one of the leading Microfinance institutions in Pakistan through which you can avail wide range of financial services. With its app EasyLoan, you can request a personal loan of up to Rs50, 000 without standing in queues and filling out lengthy forms.  Its app is powered by advanced data science and machine learning. Anyone with an Android phone and with or without a formal credit history can apply for a loan, get an instant decision and receive funds directly to their account within no time.

The initiative is especially for SMEs and startups who want to do something to add value to people’s lives but don’t have enough resources. With Sarmaya Finance digital microfinance services you can save and grow your finances.

Apart from this, SMP also aims to improve the quality of life by making financial help accessible for everyone.

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